Mr. Guo Wenqing Met with Heinrich Weiss, Chairman of the Shareholders’ Committee of SMS Group

On March 27, Mr. Guo Wenqing, General Manager of China Minmetals Corporation and Chairman of China Metallurgical Group Corporation met with the delegation led by Heinrich Weiss, Chairman of the Shareholders’ Committee of SMS Group, to discuss cooperation opportunities between the two sides in detail.

Mr. Guo extended a warm welcome to the delegation and introduced the development of China Minmetals Corporation (CMC), restructured from two Fortune Global 500 companies, namely China Minmetals and China Metallurgical Group. He pointed out that CMC is the only state-owned investment company in China’s metals and mining industry. Currently, it holds 1.68 trillion yuan in assets under management and has 200,000 employees. It is responsible for safeguarding the country from metal supply shortages and committed to becoming China’s largest and world’s leading metals and mining group. China Metallurgical Group has always been at the forefront of China’s steel industry. The state-owned metallurgical construction contractor holds 90% domestic market share and 60% international and provides first-class construction services, technical support, and operation services for all major Chinese steel companies.

Guo Wenqing pointed out that SMS Group is the world leader in the metallurgical industry and has unique advantages in research and development and equipment manufacturing. China Metallurgical Group has advanced technology and extensive experience in metallurgical design and construction. The two sides will further expand and deepen their cooperation by combining complementary advantages to achieve win-win development, jointly increase their influence and voice in the global metallurgical market, and promote the green transformation of China’s and global metallurgical industries.

Mr. Weiss expressed his gratitude for the warm reception and introduced the SMS Group’s history, business scope and business in China. Mr. Weiss fully agreed with Guo’s proposal for cooperation and stated that China Metallurgical Group is second to none in the field of metallurgical design and construction in China and even the world, particularly in the construction of EPC projects. Cooperation between the two sides is extensive and has bright prospects. SMS Group is willing to work with China Minmetals and China Metallurgical Group to explore different types of business in developed markets, emerging markets and the Chinese market to achieve mutual benefit and common development.

At the meeting, the two sides appointed liaison officers and departments and further discussed issues of common concern such as transformation and development of metallurgical construction and equipment manufacturing enterprises.